GERMAN AGENCY SHUNS PFIZER CANCER DRUG

A Pfizer Inc. drug discovered by Pfizer Inc. scientists in California and developed largely in Groton has received the cold shoulder from healthcare pricing authorities in Germany.

Pfizer's cancer drug Xalkori received an initial turndown from the Institute for Quality and Efficiency in Health Care, which weighs the costs of new drugs when deciding on which medicines the German government will fund.

According to the industry blog FiercePharma, Xalkori received a "no additional benefit" tag from the agency, meaning it wasn't better than established drugs.